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Contemporary analysis of monetary policies essentially began with economists trying to understand the US stagflation of the late 1970s. Reckless expansionary monetary and fiscal policies in the 1960s and 1970s caused inflation and unemployment to rise to levels not previously seen in the US in the post-World War II era.

Construction of the line started in 2018.

Countries around the world should hold to the principles of openness, inclusiveness and cooperation in dealing with challenges like a lack of economic demand and trade protectionism, President Xi Jinping said on Wednesday.

Construction of the long-awaited Hong Kong-Zhuhai-Macao Bridge took a big step toward completion on Tuesday when workers began to install the final piece of an underwater tunnel.

Consumption also is expected to remain stable, the academy's report said. The country has devised a series of policies such as personal tax cuts to encourage consumption, which will work to help increase retail sales, it said.